Mago: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Mago
Largest movements
- Tangible fixed assets -€30,439
down €30,439 (-6.2%), from €494,886 to €464,447
of which Land and buildings: -€22,435
- Formation expenses +€6,475
new in 2025: €6,475
- Debts after one year -€35,723
down €35,723 (-9.2%), from €386,469 to €350,746
- Reserves +€12,088
up €12,088 (+37.6%), from €32,191 to €44,279
- Gross operating margin +€10,449
up €10,449 (+20.5%), from €51,057 to €61,506
- Taxes +€2,914
up €2,914 (+246.6%), from €1,182 to €4,096
- Financial charges -€2,064
down €2,064 (-25.4%), from €8,131 to €6,067
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €524,144 | €495,973 | -€28,172 | -5.4% |
| Formation expenses | 20 | - | €6,475 | +€6,475 | |
| Fixed assets | 21/28 | €495,304 | €464,447 | -€30,857 | -6.2% |
| Intangible fixed assets | 21 | €418 | - | -€418 | |
| Tangible fixed assets | 22/27 | €494,886 | €464,447 | -€30,439 | -6.2% |
| Land and buildings | 22 | €467,213 | €444,778 | -€22,435 | -4.8% |
| Plant, machinery and equipment | 23 | €26,965 | €19,669 | -€7,296 | -27.1% |
| Furniture and vehicles | 24 | €709 | - | -€709 | |
| Current assets | 29/58 | €28,840 | €25,051 | -€3,790 | -13.1% |
| Amounts receivable within one year | 40/41 | €468 | €234 | -€234 | -50.0% |
| Other amounts receivable | 41 | €468 | €234 | -€234 | -50.0% |
| Cash at bank and in hand | 54/58 | €24,623 | €20,843 | -€3,780 | -15.4% |
| Deferred charges and accrued income | 490/1 | €3,749 | €3,973 | +€225 | +6.0% |
| Total equity and liabilities | 10/49 | €524,144 | €495,973 | -€28,172 | -5.4% |
| Equity | 10/15 | €96,121 | €108,210 | +€12,088 | +12.6% |
| Contributions | 10/11 | €63,931 | €63,931 | = | 0.0% |
| Reserves | 13 | €32,191 | €44,279 | +€12,088 | +37.6% |
| Distributable reserves | 133 | €32,191 | €44,279 | +€12,088 | +37.6% |
| Amounts payable | 17/49 | €428,023 | €387,763 | -€40,260 | -9.4% |
| Amounts payable after more than one year | 17 | €386,469 | €350,746 | -€35,723 | -9.2% |
| Financial debts | 170/4 | €386,469 | €350,746 | -€35,723 | -9.2% |
| Amounts payable within one year | 42/48 | €41,554 | €37,017 | -€4,537 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €34,902 | €35,723 | +€821 | +2.4% |
| Financial debts | 43 | €534 | - | -€534 | |
| Credit institutions | 430/8 | €534 | - | -€534 | |
| Trade debts | 44 | €4,721 | €1,151 | -€3,569 | -75.6% |
| Suppliers | 440/4 | €4,721 | €1,151 | -€3,569 | -75.6% |
| Taxes, remuneration and social security | 45 | €376 | - | -€376 | |
| Taxes | 450/3 | €376 | - | -€376 | |
| Other amounts payable | 47/48 | €1,021 | €143 | -€878 | -86.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,046 | €36,694 | -€352 | -0.9% |
| Other operating charges | 640/8 | €2,287 | €2,561 | +€273 | +12.0% |
| Gross operating margin | 9900 | €51,057 | €61,506 | +€10,449 | +20.5% |
| Operating profit (loss) | 9901 | €11,725 | €22,251 | +€10,527 | +89.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €8,131 | €6,067 | -€2,064 | -25.4% |
| Recurring financial charges | 65 | €8,131 | €6,067 | -€2,064 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €3,594 | €16,184 | +€12,590 | +350.3% |
| Income taxes | 67/77 | €1,182 | €4,096 | +€2,914 | +246.6% |
| Profit (loss) for the period | 9904 | €2,412 | €12,088 | +€9,676 | +401.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,412 | €12,088 | +€9,676 | +401.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.